how to use money in hongkong to trade forex spot?

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dadainnyc

I have been making money by trading fx spot for last 4 years. a rich hk person somehow contacted me and wants me to use his money to trade fx spot. he told me he can open a managed account in a hk bank (ubs, barcap, citi, etc) so I can use their PB service.

I only used my own money for trading before and never worked with PB so wondering how this hk thing could work? do I need have my own hedge fund company to conduct trading, or there is an easy way?

really appreciate any comments:)
 
dadainnyc said:
I have been making money by trading fx spot for last 4 years. a rich hk person somehow contacted me and wants me to use his money to trade fx spot. he told me he can open a managed account in a hk bank (ubs, barcap, citi, etc) so I can use their PB service.

I only used my own money for trading before and never worked with PB so wondering how this hk thing could work? do I need have my own hedge fund company to conduct trading, or there is an easy way?

really appreciate any comments:)
More...
Where do you live ?
 
If, as you stated, the "rich hk person" is already fully set up with PB services then he or his contacts should be the ones who guide you in how to get set up. Just ask him.

dadainnyc said:
I have been making money by trading fx spot for last 4 years. a rich hk person somehow contacted me and wants me to use his money to trade fx spot. he told me he can open a managed account in a hk bank (ubs, barcap, citi, etc) so I can use their PB service.

I only used my own money for trading before and never worked with PB so wondering how this hk thing could work? do I need have my own hedge fund company to conduct trading, or there is an easy way?

really appreciate any comments:)
More...
 
Zzzz1 said:
If, as you stated, the "rich hk person" is already fully set up with PB services then he or his contacts should be the ones who guide you in how to get set up. Just ask him.
More...

he has not set up anything yet...just saying it'd be done by HK bank PB. I just wanna get some info how this thing could be done before he opens a PB account.
 
dadainnyc said:
I have been making money by trading fx spot for last 4 years. a rich hk person somehow contacted me and wants me to use his money to trade fx spot. he told me he can open a managed account in a hk bank (ubs, barcap, citi, etc) so I can use their PB service.

I only used my own money for trading before and never worked with PB so wondering how this hk thing could work? do I need have my own hedge fund company to conduct trading, or there is an easy way?

really appreciate any comments:)
More...

Suggest you wait until you are in the USA. At the least you need to get a Chinese attorney to look at it. I do not envy you. One time I spent about 45 minutes going back and forth with a girl at HSBC. She refused to acknowledge my address and would not tell me why. Turned out it was because I did not use upper case letters to her liking. They are very obsessive compulsive and not remotely results oriented.
 
there is no HK bank with a PB desk except HSBC.

dadainnyc said:
he has not set up anything yet...just saying it'd be done by HK bank PB. I just wanna get some info how this thing could be done before he opens a PB account.
More...
 
Who implemented your current setup? It does not sound like you did it yourself. You should definitely pay up and seek some expert legal advice rather than ask on an anonymous forum, just my 2 cents.

dadainnyc said:
i live in nyc. i am using a us PP to trade and all my gears are in NY4.

actually i am wondering if I can trade in NY4 by a HK PB account?
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I second that. I live in HK and only use HSBC for personal banking because they are all over the city and cover a number Asian cities. Else I find HSBC very cumbersome to work with, even as "Premier Account" customer.

poorboy said:
Suggest you wait until you are in the USA. At the least you need to get a Chinese attorney to look at it. I do not envy you. One time I spent about 45 minutes going back and forth with a girl at HSBC. She refused to acknowledge my address and would not tell me why. Turned out it was because I did not use upper case letters to her liking. They are very obsessive compulsive and not remotely results oriented.
More...
 
dadainnyc said:
i live in nyc. i am using a us PP to trade and all my gears are in NY4.

actually i am wondering if I can trade in NY4 by a HK PB account?
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Yes you just need your clearer / PB to give you a cross connect in ny4. You should register with the cftc in the usa as a forex managing firm, if its for only 1 client there are a few exceptions that make the process fairly light and cheap.
 
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